bitcoin cannot replace currency in the world because price is not stable - page 29.

SinLinJim

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Quote from: tinhyeumaunang on August 06, 2017, 12:29:38 PM

Quote from: ranreichman on July 07, 2017, 01:50:26 AM

Bitcoin is a long way from becoming a currency you can live your life in. You also only have 7 transactions a second. But that doesn't mean Bitcoin isn't immensely valuable as a medium-term and long-term store of value

Yes we do not deny the value of bitcoin. The replacement of conventional money for bitcoin is a pretty difficult. You have thought so, no?

Replacing money for bitcoin is not just complicated, but impossible. This will never happen. The government will always support Fiat. And bitcoin will be an alternative coin

tinhyeumaunang

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Quote from: ranreichman on July 07, 2017, 01:50:26 AM

Bitcoin is a long way from becoming a currency you can live your life in. You also only have 7 transactions a second. But that doesn't mean Bitcoin isn't immensely valuable as a medium-term and long-term store of value

Yes we do not deny the value of bitcoin. The replacement of conventional money for bitcoin is a pretty difficult. You have thought so, no?

libert19

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I agree 100%, i think twice before spending Bitcoin because i think it's price will go up lol

DoublerHunter

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Quote from: kodtycoon on August 05, 2017, 12:45:33 AM

I never thought and never wanted bitcoin into currency in the world, bitcoin is a crypto currency that is not required to replace currency in the world . I will support bitcoin but I would not agree if bitcoin replaces the currency on a country.

I also not agree for bitcoin to replace the current currency in a country because bitcoin will not solve all of the problems that we have in money because it can't supply all the people and it can't even have a stable price so it will become a chaotic situation for the users of bitcoin if all the people will be using bitcoin because the supply will not sustain the increasing or growing demand of the people.

notyours

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And the one thing why bitcoin cannot change the fiat currenncy is transactions why you acceft payments if you have no bitcoins account? the fees ? And its required internet cellphone. what if you have a small store and you cannot afford to pay monthly bills for internet. There are so many things to improve before BITCOINS can be replace the world currencies. We need more high technologies
more many years before Altcurrency can be legalized to whole world.

kodtycoon

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I never thought and never wanted bitcoin into currency in the world, bitcoin is a crypto currency that is not required to replace currency in the world . I will support bitcoin but I would not agree if bitcoin replaces the currency on a country.

Kingofbitcoin12345

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Wait until all country make a law about bitcoin, things might change a lot. It's so early to make such conclusion.

SiNeReiNZzz

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Quote from: 8Habits on July 31, 2017, 10:40:56 AM

Quote from: cipotok on July 30, 2017, 12:48:20 AM

Bitcoin can not replace the currency because bitcoin is virtual money, but even virtula money but bitcoin has bigger value than real money, because bitcoin value can change fox.
So bitcoin can give something a good value for development.

bitcoin can well be just for investment and fiat money for typical day to day transactions. I would rather not use bitcoin to buy stuff online if I have some fiat money to use because the value of bitcoin is promising - I would just keep and hold of it along with investment here and there using my bitcoin.

Me too, if I had that spare amount of fiat equivalent of the price on what I am going to buy, then i would also rather to buy it using my fiat. For me it would only be a waste since the potential of bitcoin and its value is more promising, then I will just going to use it in simple way... I guess not so I would rather keep it for savings or even as an investment.

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Quote from: Yuuto on August 05, 2017, 12:04:33 AM

Quote from: facenew111 on July 07, 2017, 01:40:42 AM

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

Whilst i do agree with the idea of a currency that can only function when it is very very stable, i don't think that bitcoin cannot be used as a currency when it is fluctuating like right now. Price is first of all generally going in the right direction which is upwards, so that means people are willing to trade their whatevers for bitcoin.

When it is down though that's when the problem begins. People start panicking and all that. But right now, people are accepting bitcoin with services such as bitpay anyways. So what people care about is the USD value not the btc value.

There is really nothing to do, except wait till mass adoption happens and more merchants accept bitcoin. Then bitcoin has real utility value, and will stabilize by itself.

As of now the scenario is going good with bitcoin adoption happening all around in a much better way. Now more countries were in continued examination about the usage of bitcoin into their government. Hope this will make more countries actively participate into bitcoin related economy and lead to growth.

Yuuto

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Quote from: facenew111 on July 07, 2017, 01:40:42 AM

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

Whilst i do agree with the idea of a currency that can only function when it is very very stable, i don't think that bitcoin cannot be used as a currency when it is fluctuating like right now. Price is first of all generally going in the right direction which is upwards, so that means people are willing to trade their whatevers for bitcoin.

When it is down though that's when the problem begins. People start panicking and all that. But right now, people are accepting bitcoin with services such as bitpay anyways. So what people care about is the USD value not the btc value.

There is really nothing to do, except wait till mass adoption happens and more merchants accept bitcoin. Then bitcoin has real utility value, and will stabilize by itself.

Oo ako to

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Quote from: iram1011 on July 27, 2017, 08:09:41 PM

Quote from: Inkdatar on July 27, 2017, 12:48:03 PM

Quote from: Oralmat on July 27, 2017, 08:39:44 AM

Definitely, I am agree with you, when i know about bitcoin deeply, then i also have thought that bitcoin couldn't change in currency. Bitcoin would be faced too much difficulties if bitcoin become into physical appearance. First of all, i am not thinking about it now and also in future. People like to use bitcoin as it is.

My point of view for this, bitcoin cannot replace the world currency for now because price is not stable. You were right on this, its not stable and it has normal fluctuation of its value ever since when its started to hit in the market. I dont think it will replace the currency in the world as it is not yet accepted globally.

Bitcoin wasn't even created for replacing fiat currency. Otherwise its supply wouldn't be limited or would have a lot more than 21 million. Bitcoin was created to coexist with fiat and gave this world a new form of monetary system different from centralised form of currency or financial system.

Correct but I have a feeling that if bitcoin reached it's a highest peak, it will somehow be stable. Let's say it reach 1 BTC = $100,000 then it's price might just play to 5%+ up and down yearly. We all know that bitcoin is still rising and rising and it's current value is not even close to it's predicted highest value.

bohr

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Quote from: Rizky Aditya on July 31, 2017, 05:02:21 PM

Quote from: bohr on July 31, 2017, 11:46:07 AM

Quote from: facenew111 on July 07, 2017, 01:40:42 AM

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

That is not a real reason, money when undergoing hyperinflation is a lot more unstable than bitcoin is ever going to be, the real reason is that governments are never going to release their monopoly on printing money, it is simply to valuable for them to let it go.

Indeed! That’s the primary reason why bitcoins are still not legal all over the globe. Bitcoins are not going to let governments enjoy high taxes they are now grabbing from innocent people in the name of welfare of the state. Bitcoins do not allow these tyrant rulers control money of the public. Bitcoins have all the characteristics of replacing the fiat.

Correct this is why I think when governments finally realize that bitcoin is not just a tool for geeks and people that are into computers and they realize the average Joe is beginning to use bitcoin then they will launch a full scale war against bitcoin but I think it is too late, bitcoin cannot be killed, bitcoin is very similar to torrents, and governments have tried to kill torrents and they have failed.

Rizky Aditya

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Quote from: bohr on July 31, 2017, 11:46:07 AM

Quote from: facenew111 on July 07, 2017, 01:40:42 AM

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

That is not a real reason, money when undergoing hyperinflation is a lot more unstable than bitcoin is ever going to be, the real reason is that governments are never going to release their monopoly on printing money, it is simply to valuable for them to let it go.

Indeed! That’s the primary reason why bitcoins are still not legal all over the globe. Bitcoins are not going to let governments enjoy high taxes they are now grabbing from innocent people in the name of welfare of the state. Bitcoins do not allow these tyrant rulers control money of the public. Bitcoins have all the characteristics of replacing the fiat.

bohr

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Quote from: facenew111 on July 07, 2017, 01:40:42 AM

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

That is not a real reason, money when undergoing hyperinflation is a lot more unstable than bitcoin is ever going to be, the real reason is that governments are never going to release their monopoly on printing money, it is simply to valuable for them to let it go.

phonglouis

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i think same you. Bitcoin'value is too high for us to imagine that it can replace currency in the world. if this happens, it can appear to compete unbelievably

8Habits

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Quote from: cipotok on July 30, 2017, 12:48:20 AM

Bitcoin can not replace the currency because bitcoin is virtual money, but even virtula money but bitcoin has bigger value than real money, because bitcoin value can change fox.
So bitcoin can give something a good value for development.

bitcoin can well be just for investment and fiat money for typical day to day transactions. I would rather not use bitcoin to buy stuff online if I have some fiat money to use because the value of bitcoin is promising - I would just keep and hold of it along with investment here and there using my bitcoin.

cipotok

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Bitcoin can not replace the currency because bitcoin is virtual money, but even virtula money but bitcoin has bigger value than real money, because bitcoin value can change fox.
So bitcoin can give something a good value for development.

Gameroid

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Quote from: Kingofbitcoin12345 on July 28, 2017, 02:22:15 AM

Even when the price of bitcoin will stable in coming years it will not replace any currency at all. Because it was not intended for that purpose at the first place.

yes that is right that bitcoin still cannot replace any other currency at all but i am sure that it will effect it a lot.because bitcoin is now becoming popular and very soon peole will start using bitcoin as normal currency.

Rishabh riyz

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Quote from: 8Habits on July 28, 2017, 02:06:53 AM

Quote from: micher143 on July 28, 2017, 01:18:45 AM

Quote from: facenew111 on July 07, 2017, 01:40:42 AM

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

It is very well explained. However, As long as you are using bitcoin for buying stuffs or other it is called currency just like game credits no matter what it is but as long as you are spending it, it is called currency so in terms of stability that is normal because the bitcoin have a limited supply.

Currency - from the word current, it will keep on moving like a current and there is really nothing we can do about it except to capitalize on its price movement and trade - buy low and sell high.

well it is actually good that bitcoins don't have a star value Pepe would ake advantage of that and can easily make more bitcoins by improving their trading skills.
just ecause it's value is not style that won't overcome many other advantages of bitcoins like low transfer taxes , identity security , growing value , financial freedom etc:-
well seeing such advantages of this digital decentralised crypto currency people would surely start using bitcoins instead of the local currency for transactions atleast the traders would start accepting them as a model of payment .
so bitcoins would most likely overcome the physical currency and would be globally accepted

Kingofbitcoin12345

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Even when the price of bitcoin will stable in coming years it will not replace any currency at all. Because it was not intended for that purpose at the first place.

Topic: bitcoin cannot replace currency in the world because price is not stable - page 29. (Read 13359 times)